The NBA 2K League will award $1 million in prize money over the course of its inaugural season, with the largest prize pool reserved for the end of season champions.

There will be four opportunities throughout the season for teams to win prize money: three tournaments and the league championship.

All players will be signed to a six-month contract, with first-round draft picks to be paid a base salary of $35,000 and all other players being paid a $32,000 base salary.

Players can sign endorsement deals to earn income in addition to their NBA 2K League compensation package, subject to league guidelines.

Housing and Benefits

In addition to base salary, players will receive paid housing for the entire season. Relocation will be included in compensation packages.

Additional benefits include medical insurance and a retirement plan.

During the season while players are traveling for games, the league will pay for travel costs such as housing, food and transportation.

The league will sign players to contracts in March 2018.

For more news and announcements, be sure to follow @NBA2KLeague on Twitter.